Wells Fargo Fires Back At MedCap Ponzi Class Action
By Ciaran McEvoy ( March 11, 2013, 9:57 PM EDT) -- Wells Fargo NA asked a California federal judge on Monday to throw out a consolidated class action alleging it breached its contract with noteholders by disbursing their funds to Medical Capital Holdings Inc. in MedCap's $1 billion Ponzi scheme, arguing it wasn't contractually required to notify investors of irregularities until the accounts defaulted....
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